Acaris announces development and licensing agreement
 with City Technology Limited

Cambridge, UK, 14 October 2002: Acaris Healthcare Solutions plc (“Acaris” or “the Company”) today announced that it has entered into a product development and technology licensing agreement with City Technology Limited (Portsmouth, UK: “City”) to develop a new range of products to detect and monitor hazardous biological agents used in industrial environments.

Under the terms of this latest agreement, Acaris will use its proprietary technology base to develop products for City’s industrial market. The first products to evolve from this programme will be for monitoring allergenic agents in manufacturing environments. In the USA the Occupational Safety & Health Administration (OSHA) estimates that 11 million workers are at risk from Occupational Asthma arising as a result of high levels of allergens in the working environment.  Similarly, the UK Health and Safety Commission (HSC) has set a target to reduce cases of Occupational Asthma by 30% by 2010. As part of the agreement, City has acquired an exclusive world-wide licence for these products in exchange for royalties payable to Acaris on sales and has also taken a first equity stake in Acaris.

 

Dr Ramin Pirzad, Managing Director of Acaris, commented: “This is a very important and exciting alliance for Acaris allowing the company to expand its technology and know-how into wider target markets, in this case, the industrial sector. This initial opportunity sees the start of a potential new pipeline of products for this sector.”

 

Kevin Breen, CEO of City, commented: “We are very pleased to work with Acaris who have significant proprietary technology which will enable us to offer a wider range of sensors to our industrial instrumentation customers.  We believe that the joint development work between City and Acaris will result in a significant contribution to industrial safety world-wide.”

 

Notes to Editors

 

Acaris Healthcare Solutions plc (Cambridge, UK) is a private healthcare company developing innovative products which address global market needs for allergy management. Formed three years ago, the company has developed core IPR and technology for the control and avoidance of allergy-related conditions, based on protease enzyme technology.  With a pipeline of products planned to control exposure to allergens both in the healthcare and industrial sectors, the company has completed the development of its first product, AcarisACTIV, a device for the detection of dust mite allergens, a causative agent and trigger for an increasing asthma problem. The company expects this product to be launched early in 2003 in the UK through distributor partners.

For more information please see www.acaris.co.uk

 

City Technology Limited (Portsmouth, UK) specialises in the design and manufacture of high quality sensors for gas detection. From its small beginnings on London's City University campus in 1977, City has grown into an international business employing almost three hundred staff and operating from purpose-built production and research facilities in Portsmouth, Hampshire.

 

City currently supplies a range of gas detection sensors worldwide. These sensors are used in a broad range of installations to protect people and property, preserve the environment and improve safety.

 

City is part of the First Technology Group of Companies. First Technology PLC (LSE: FRS) is an international group whose strategy is to harness the best of today's technologies in the creation of high quality products which play important roles in improving the safety, comfort and protection of people and their environment.

For more information please see www.citytech.com

 

Embargoed until 10.00BST	14 October 2002
Acaris Healthcare Solutions plc		Tel: +44 (0)1223 496 106
Dr Ramin Pirzad, Managing Director
Media Contact Fiona Brown, Charles Consultants